Environmental, social and governance (ESG) has gone from a ubiquitous buzzword to a critical consideration for companies seeking to remain competitive in a marketplace that is increasingly concerned with social and ethical responsibility. However, the absence of a single regulated and standardized framework, as well as the lack of regulatory bodies requiring its implementation, makes it difficult to compare metrics across companies. In a co-authored opinion piece for EXAME/Visão magazine, Pedro Antunes, Labor Partner at CCA, reflects on the need to implement global EU legislation on reporting and ESG issues.
"It is capital to push the business fabric to recognize transparency as crucial to enable financial market participants to assess and price, as well as, sustainability risks and impacts when making investment decisions. Transparency and the regulation and standardization of reporting models depend on the existence of reliable information," emphasizes the Partner.